Stocks quoted in this article:
The Dow Jones Industrial Average (DJI - 13,412.53) is down 136 points, or 1%, thanks to a round of lackluster earnings reports that included Microsoft Corporation (NASDAQ:MSFT), Google Inc (NASDAQ:GOOG), and General Electric Company (NYSE:GE). Adding insult to injury, the National Association of Realtors revealed that existing home sales fell by 1.7% to a seasonally adjusted yearly rate of 4.75 million last month, while economists had projected a decline to just 4.8 million. Elsewhere, the CBOE Market Volatility Index (VIX - 15.88) is 0.9 point, or 5.7%, higher.
Here are a few noteworthy stats at midday:
- The equity put/call volume ratio across all 10 options exchanges stands at 0.95, with 4.2 million calls changing hands so far today, compared to 4.0 million puts.
- Among the equities with heavy call activity is Xerox Corporation (NYSE:XRX - 7.03), despite a decline of around 4.6% today. Currently, calls account for 98.6% of the paper product king's intraday option volume.
- The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX - 33.81) checks in at 0.55, with calls almost doubling puts.
- The Nasdaq shows an advance/decline ratio of 0.27, with the number of downward movers more than tripling the advancers.
- Among the Nasdaq's major decliners is Marvell Technology Group Ltd. (NASDAQ:MRVL - 7.59), which has shed about 14% -- and tagged a new multi-year low of $7.57 -- in intraday trading after issuing a weak third-quarter guidance yesterday. The news also triggered downgrades from Lazard, FBR, Craig-Hallum, Deutsche Bank, and Jefferies this morning, along with a slew of price-target cuts.